Cognizant Technology Solutions (NASDAQ:CTSH) Given New $84.00 Price Target at Mizuho

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lifted by equities researchers at Mizuho from $83.00 to $84.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the information technology service provider’s stock. Mizuho’s price target points to a potential upside of 13.07% from the stock’s current price.

Several other equities analysts have also issued reports on CTSH. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $77.70.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of Cognizant Technology Solutions stock traded down $0.30 during trading hours on Friday, reaching $74.29. 1,733,574 shares of the company were exchanged, compared to its average volume of 3,815,914. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27. The firm has a market cap of $36.82 billion, a PE ratio of 16.39, a PEG ratio of 2.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The stock’s fifty day moving average is $76.40 and its 200 day moving average is $71.94.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.37% and a net margin of 11.60%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts forecast that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTSH. First Trust Direct Indexing L.P. grew its position in shares of Cognizant Technology Solutions by 9.7% during the first quarter. First Trust Direct Indexing L.P. now owns 13,804 shares of the information technology service provider’s stock worth $1,012,000 after buying an additional 1,216 shares in the last quarter. Norden Group LLC bought a new position in shares of Cognizant Technology Solutions during the first quarter worth about $233,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Cognizant Technology Solutions by 2.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,419 shares of the information technology service provider’s stock worth $837,000 after purchasing an additional 323 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Cognizant Technology Solutions in the first quarter valued at about $119,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Cognizant Technology Solutions by 5.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 83,368 shares of the information technology service provider’s stock worth $6,110,000 after buying an additional 4,338 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.